Actors navigate stormy waters as K-drama production ebbs

Actor Lee Jang-woo, right, enjoys a bowl of sundae (Korean blood sausage) soup with mukbang YouTuber Tzuyang. This year, Lee opened a specialty soup restaurant in Songpa District, Seoul. Captured from Tzuyang's YouTube video

By KTimes

• Published Apr 5, 2024 9:23 AM KST
• Updated Apr 5, 2024 10:54 AM KST

The Korean content industry is undergoing a drastic change amid dwindling investments and fierce competition, spurring industry players to adopt creative strategies for survival and growth.

Some actors are now producing dramas to share on YouTube or performing abroad in countries like Japan. Meanwhile, online streaming services (OTTs) and broadcasters are experiencing a complex relationship, as they go through both competition and collaboration in the content distribution landscape.

These shifts in the ecosystem stem from the fierce competition and skyrocketing production costs fueled by an oversupply of content during the COVID-19 pandemic, leading to a significant decline in drama production due to deteriorating profitability.

According to the Korea Drama Producers Association, around 100 dramas are set to be released this year by OTTs and broadcasters, down roughly 30 percent from 2022.

Actors become producers

Actor Kim Ji-seok was mistakenly referred to as "Ji Seok-jin" by a restaurant owner, who confused him with the entertainer, resulting in an awkward autograph session. This incident sheds light on the challenges faced by a veteran actor with a 20-year career, especially during periods without drama projects lined up, despite his established reputation from works like "Chuno" (2009) and "When the Camellia Blooms" (2019).

Frustrated by the lack of acting opportunities, Kim decided to take matters into his own hands, creating a YouTube drama titled "I am Kim Ji-seok," drawing from such experiences. He aimed to survive in the industry by producing four dramas around the theme "Surviving as Actor Kim Ji-seok," essentially creating work for himself amid a dry spell of offers.

With only one mini-series airing per week at major broadcasters like KBS, MBC, and SBS, the reduction in TV drama production has led to an increase in actors taking on second jobs to support themselves.

Similarly, actor Lee Jang-woo, once dubbed the "Prince of Weekend Dramas" for his roles in hits like "My Only One" (2019), now finds himself more often cooking ribs and boiling noodles than acting in front of the camera, as drama offers have become scarce. He opened a restaurant, spending his days chopping 100kg of radishes to make kkakdugi (radish kimchi).

The trend of actors seeking opportunities overseas is gaining momentum. Among them, Chae Jong-hyeop, as well as actors from the group 2PM, Hwang Chan-sung, and Ha Yeon-soo, are currently filming dramas in Japan.

While the pay may be lower than in Korea, the opportunity to take on leading roles is a significant advantage.

"Working on projects in Japan entails high costs, including overseas living expenses for staff, and the impact of the content is typically weaker compared to Korea. Therefore, we did not consider Japan for projects until around 3 or 4 years ago," said an official at one entertainment agency. "However, with the number of drama productions expected to decrease further next year, we are actively considering offers from Japan and paying attention to local networks."

Uneasy alliance

Meanwhile, in a bid for survival, OTTs and broadcasters have begun to join hands.

The drama "Hide," featuring Lee Bo-young, is jointly released by Coupang Play and JTBC on Saturdays and Sundays. This marks the first time since its inception in 2020 that Coupang Play has produced an original drama to be simultaneously aired on a broadcasting channel.

One person who works for a drama production company that supplies content to both OTTs and broadcasters said, "As production costs rise, there's a trend toward OTTs selling simultaneous broadcasting rights to TV stations to reduce risks, instead of opting for exclusive releases."

The production of "Hide" involves not only Coupang Play, but also major domestic studios like SLL and competitor CJ ENM's Studio Dragon. This collaboration is akin to industry giants like Naver, Samsung, and LG Electronics joining forces, showcasing a significant shift in production and distribution methods driven by a growing sense of crisis in the K-content production scene.

Emergence of micro-dramas

The length of dramas, which used to exceed 80 minutes per episode, is now shrinking to as short as 2 minutes.

Last month, the innovative platform Top Reels debuted, focusing on the distribution of concise dramas. Among its offerings is "My Husband, My Sister, and I," a compelling narrative of a woman's quest for revenge upon uncovering her husband's affair with her sister.

This trend of producing short, sensational, and spicy dramas with low production costs, and dividing them into numerous episodes (50-100) for release, is perceived as a strategy to generate revenue in response to the growing challenge of recouping investments in the K-content market.

There are concerns that the decrease in drama production scale and the emergence of lower-quality provocative content could potentially have adverse effects on viewers. If the quality of K-content, which relies on significant capital investments like the "Squid Game" series and "Moving," deteriorates and loses its competitive edge internationally, it could exacerbate the content consumption environment.

Cultural critic Jung Deok-hyun suggests that production companies, platforms, actor management companies, and production staff associations need to come together to find a compromise on rising production costs. "Government bodies like the Ministry of Culture, Sports and Tourism should step in to facilitate discussions and create guidelines for mutual benefit," Jung said.

This article from the Hankook Ilbo, a sister publication of The Korea Times, was translated by generative AI and edited by The Korea Times.